Fidelity NetBenefits

Fidelity NetBenefits is a powerful online platform designed to help employees manage their workplace retirement plans and benefits, including 401(k) accounts, health savings accounts (HSAs), and other employer-sponsored benefits.

Through NetBenefits, employees can access their accounts, review their contributions, monitor investment performance, and take advantage of tools for retirement planning. Some of the key accounts and services available through Fidelity NetBenefits include:

• Employee discounts and wellness programs
• 401(k) and other retirement accounts
• Health Savings Accounts (HSAs)
• Employee stock purchase plans (ESPP)
• Pension plans
• Tuition assistance programs

How to use Fidelity NetBenefits?

Accessing Fidelity NetBenefits is simple, and employees can log in at any time to manage their benefits. Here’s how to get started:

1. Go to https://www.netbenefits.fidelity.com to access the login page.
2. Use your username and password provided by Fidelity. If you haven’t set up your account yet, you can register by clicking on the “Register” link on the login page.
3. For added security, Fidelity requires multi-factor authentication (MFA) when you log in. This ensures that only you can access your account, even if your login credentials are compromised.

Once logged in, you can manage all aspects of your retirement and benefits accounts, including investment options, transactions, and retirement goals.

What can you do with a Fidelity account?

One of the main features of Fidelity NetBenefits is the ability to manage your workplace retirement accounts, such as a 401(k), 403(b), or 457 plan. Through the platform, you can:

1. Check your current account balance and track the growth of your retirement savings.
2. Modify your contribution percentages to increase or decrease how much you contribute from each paycheck.
3. Fidelity offers a wide range of investment options, including target-date funds, index funds, and actively managed funds. You can review these options and make changes to your asset allocation as needed.
4. Monitor the performance of your investments, review historical returns, and adjust your strategy based on your retirement goals.
5. If your retirement portfolio becomes unbalanced due to market fluctuations, Fidelity allows you to set up automatic rebalancing to ensure your asset allocation stays on track.

Through the platform, employees can view their account balances, adjust contributions, monitor investment performance, and access valuable educational resources.

Educational Resources: Fidelity NetBenefits

Fidelity NetBenefits includes an extensive library of educational resources to help you make informed decisions about your retirement, benefits, and financial future. These resources include:

• Guides and Articles: Fidelity offers written content on topics like retirement planning, budgeting, saving for college, and managing debt.
• Webinars and Videos: Fidelity hosts free online webinars and videos that cover financial topics such as investing basics, tax strategies, and retirement planning.
• Live Chat and Support: If you need personalized guidance, you can use Fidelity’s live chat feature or call customer support to speak with a financial advisor or retirement specialist.

By providing these resources, Fidelity helps you stay informed and confident about managing your financial future.

Fidelity NetBenefits App

Fidelity understands the importance of flexibility, which is why they offer mobile access to NetBenefits through their app. The Fidelity NetBenefits app is available for both iOS and Android devices, allowing you to manage your benefits on the go. Through the app, you can:

• Check Your Balances: View your 401(k), HSA, and other benefit balances from anywhere.
• Make Transactions: Adjust your contribution rates, rebalance your portfolio, and even manage your health accounts from the palm of your hand.
• Receive Alerts and Notifications: Get notified about important account activity, such as contribution deadlines, fund performance changes, or upcoming benefits enrollment periods.
• Track Retirement Goals: Monitor your retirement savings progress and make adjustments as needed.

Having access to Fidelity NetBenefits via a mobile app ensures that you can stay on top of your finances wherever you are.

Understand Fidelity Fees and Costs

Fidelity offers some of the most competitive fees in the financial industry, but it’s essential to understand the costs associated with the services offered through NetBenefits.

• Higher management fees than passive index funds. It’s important to review the expense ratios of your chosen funds to understand how much you’re paying in management fees.
• Fidelity generally offers commission-free trades for most ETFs and mutual funds; certain asset classes or trades (such as selling foreign stocks) may incur a small transaction fee.
• Fidelity does not charge maintenance fees for most of its retirement accounts, but some specialized accounts or services may have fees. Always check the specific terms of your employer’s plan and the associated costs.
• There might be fees for things like wire transfers, loan origination fees (if your 401(k) allows loans), or early withdrawal penalties. However, these fees are typically rare and dependent on the specific circumstances of your plan.

By using low-cost index funds and understanding the fee structure of your account, you can keep your investment costs to a minimum, maximizing your long-term returns.